The Federal Reserve raised rates by 50 basis points on Wednesday, its first rate hike of at least half a percentage point in more than 20 years. The broader markets surged following the hike as a more hawkish Fed should help to cool record inflation.
The Fed also signaled it plans to reduce its trillions of bond holdings at a slower pace than it previously indicated just a month before, Benzinga's Mitch Hoch pointed out Wednesday evening on "Money Mitch."
